Carnival, Royal Caribbean fight for control over ChinaCarnival Corp. is expanding its fleet in China by two ships to six, topping chief rival Royal Caribbean by one ship, as the race to dominate the rapidly-growing cruise market in the world's largest consumer market intensifies. The Carnival move will increase its capacity in China by 58% through the end of 2016, putting China on track to eventually displace the U.S. as the Miami-based company's largest geographic market. Earlier this year, Royal Caribbean announced plans to add two ships to its fleet in China, bringing its capacity there to five. Shares of both Carnival and Royal Caribbean were trading flat in premarket trade, around $52.37 and $84.90, respectively.

Carnival upgraded to buy as cruise demand rebounds Carnival Corp. was upgraded to buy from hold at Deutsche Bank on Monday, with analyst Richard Carter predicting the cruise company beats near-term consensus estimates amid low fuel costs and rebounding bookings. Deutsche Bank's 12-month price target of $55.30 implies a 13% increase from Friday's closing price. Shares of Carnival Corp. climbed 3.1% to $50.45 in premarket trade. "This update will not only underpin near term consensus forecasts, but should incrementally build confidence for outer years and the double-digit [return on capital employed] target," said Carter. The analyst also cited strong growth in demand for cruises in China.

Hong Kong stocks fall after China inflation dataHONG KONG (MarketWatch) -- Hong Kong stocks widened their losses Tuesday morning after China's May consumer inflation showed its first slowdown this year. The Hang Seng Index dropped 0.6%, with the mainland-China-tracking Hang Seng China Enterprises Index off 0.5%. Official data released at the market open showed China's May consumer prices rising 1.2% from a year earlier, down from a 1.5% increase in April and missing a 1.3% forecast from a Wall Street Journal survey. Producer prices in May fell 4.6% from a year ago, matching April's rate of decrease. Among major movers, train maker CRRC Corp. sank 8.2%, erasing a 4.5% rally at its trading debut the previous day. The company agreed to subscribe to 6.5 billion new shares from China Properties Investment Holdings Ltd. for 650 million Hong Kong dollars ($85 million) in a share-placement deal, according to a statement by China Properties Investment. Shares of China Properties Investment tumbled 23%. Other rail stocks also declined broadly, as China Railway Group Ltd. slid 3%, China Railway Construction Corp. lost 2.6%, Zhuzhou CSR Times Electric Co. fell 1.2%, and China Communications Construction Co. retreated by 0.6%. Macau gaming stocks suffered broad-based losses, with investment bank Barclays projecting earlier in the day that Macau casinos' average daily table revenue dropped sharply in the first seven days of this month. Melco Crown Entertainment Ltd. sagged 4.7%, Wynn Macau Ltd. shed 4.1%, and Galaxy Entertainment Group Ltd. traded 2.1% lower. Over on the Chinese mainland, the Shanghai Composite Index was down 0.1% but well off its lows immediately after the price data.

Hong Kong stocks drift lower as casinos weakHONG KONG (MarketWatch) -- Hong Kong stocks edged down Thursday morning, as the Hang Seng Index dropped 0.2%, with the Hang Seng China Enterprises down 0.5%. Macau gaming stocks recorded broad declines, as reports said Macau's government is seeking plans to curb mainland Chinese visitors due to increasing pressure by some of the city's residents. Melco Crown Entertainment Ltd. dropped 3.1%, Sands China Ltd. lost 1.4%, and Galaxy Entertainment Group Ltd. fell 1%. SJM Holdings Ltd. traded 1.3% lower after it recorded a 12.7% drop in its earnings for last year. Meanwhile, several Hong Kong retailers were also weaker, as Hong Kong's government said it too would speak with mainland Chinese authorities about restricting the number of tourists from the rest of China. Department-store operator Lifestyle International Holdings Ltd. shed 2.2%, and jeweler Luk Fook Holdings International Ltd. gave up 0.5%. Clothing retailer Esprit Holdings Ltd. slid 2.9%, after its net profit shrank by half for the second half of 2014, while beyond the retail sector, Nine Dragons Paper Holdings Ltd. tumbled more than 11% after a 30% drop in its earnings. Meanwhile, Hong Kong tycoon Li Ka-shing's two flagship companies -- Hutchison Whampoa Ltd. and Cheung Kong Holdings Ltd. -- fell 0.9% and 0.2%, respectively, ahead of the release of their annual results later in the day. However, Cheung Kong Infrastructure Holdings Ltd. , an affiliate of the other Cheung Kong, advanced 1.3% after its profit more than doubled in 2014. Life insurer AIA Group rose 0.6% after its 2014 net profit jumped 22% from the previous year. Over on the Chinese mainland, the Shanghai Composite Index fell 0.5%.

Yum Brands stock climbs despite big China sales slideNEW YORK (MarketWatch) - Shares of Yum Brands Inc. increased more than 2% in after-hours trade Tuesday after the company reported a slight revenue beat for the fourth quarter despite a 16% decline in China same-store sales. The company also maintained its full-year guidance of at least 10% EPS growth in 2015. The parent of Taco Bell, Pizza Hut and KFC reported a net loss of $86 million, or 20 cents a share, compared with a year-earlier profit of $321 million, or 72 cents a share. Excluding one-time costs, Yum earned 61 cents, slightly below the 66 cents analysts had been forecasting, according to FactSet. Total revenue for the period slid to $4 billion from $4.2 billion a year ago, though it was virtually in line with expectations. While total sales in its China division were down 11% year-over-year, the company reported improved sales in each of its major restaurant segments.

China’s beloved national lottery suspected of massive fraudChina loves its national lottery, but now some very suspicious goings-on with the game has ignited a scandal that’s capturing the country’s attention.

Taco Bell should spin off from Yum Brands: analystNEW YORK (MarketWatch) -Janney Capital Markets raised its same-store sales estimate on Taco Bell Tuesday and said parent company Yum Brands Inc. should consider spinning off the taco chain. Analyst Mark Kalinowski raised his fourth-quarter same-store sales estimate on Taco Bell by four percentage points to a range of 5% to 6%. Taco Bell is Yum's largest U.S. operating segment, comprising an average of 97% of its annual profits and 21% of total operating profit. Its performance is expected to outshine Yum's brands in China this quarter, with Yum projecting a sales decline of about 20% in that region. Kalinowski, who raised Yum to buy late last year partially on the premise of a potential Taco Bell spinoff, said the diverging sales trends highlight "one reason we continue to advocate for Yum to find a tax-efficient way to separate Taco Bell." He said the disappointing trends in China, while comprising 35% of Yum's total operating profit, aren't indicative of a slowdown in the U.S. Shares of Yum closed at $72.43 on Friday. They are about flat on the year, compared with a 10% increase for the broader S&P 500.

Dunkin' Donuts to open more than 1,400 restaurants in ChinaNEW YORK (MarketWatch) -- Dunkin' Brands Group Inc. said it's planning to open more than 1,400 Dunkin' Donuts restaurants in China, as part of a joint venture with Jollibee Worldwide Pte Ltd. and Jasmine Asset Holding Ltd., a unit of RRJ Capital Master Fund II, L.P. The coffee and baked goods chain said the first restaurant is expected to open in the fourth quarter of 2015. The company already has 16 restaurants in China. Shares were up 1.4% in premarket trade, but have fallen 2.7% in the last three months, while the S&P 500 has gained 2.9%.

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